Digital enterprise lender Vivriti Capital revealed that it has now secured $50 million as a part of its Series B funding round led by the LGT Lightstone Aspada.
The latest round comes within the ten months of the startup securing $50 million from the US-based Creation Investments raised across the two tranches between December 2018 and March 2019.
The capital will be going to be used for scaling up the startup balanced sheet and raise more debt. Another part of the investment will be used to further expand its technology and data science functions.
Speaking on the fund-raise, co-founders Gaurav Kumar and Vineet Sukumar, in a joint statement said,
“We are very pleased to bring Lightstone Aspada on board as an investor at this key phase of our journey. We’ve also achieved tremendous growth in the last 12 months, we’ve seen significant scale across debt products and the business volumes crossed Rs 25,000 crore in overall debt flow. This investment from Lightstone will be used to significantly ramp up the technology and analytical engine powering the online marketplace, and to shore up the balance sheet lending of the company, thereby serving many more clients on our platform in the coming year.”
